London, United Kingdom – LoanTube, a leading digital credit marketplace, today released a report analysing consumer borrowing trends amongst female consumers ahead of International Women’s Day. The report reveals that female consumers are most likely to apply for a loan for home improvements (42%), followed by debt consolidation (32%) and buying a new car (10%).
Among the consumer borrowing trends, LoanTube’s data reveals that female consumers are most likely to apply for a loan for home improvements (42%), requesting on average £1,603. Male consumers, however, are most likely to apply for a loan for debt consolidation (35%), requesting on average £2,193.
LoanTube’s consumer borrowing trends report also reveals that female consumers are 9% less likely than male consumers to apply for a loan for debt consolidation, but when they do, the average amount requested (£2,631) is 22% higher than their male counterparts (£2,193). This difference in average requested loan amount for debt consolidation is highest amongst young people, as women aged 18-35 request 19% more for debt consolidation (£2,714) than their male counterparts (£2,193), with the difference narrowing to 11% more in the 66+ age group (£2,121 vs £1,888).
By connecting nonprime borrowers with specialist lenders, LoanTube’s digital credit marketplace helps consumers who struggle to access loans through mainstream finance providers. LoanTube’s consumer borrowing trends report sheds light on the financial challenges disproportionately affecting women and the diverse motivations behind loan applications.
Aymeric Monod-Gayraud, Co-Founder of LoanTube commented “Our consumer borrowing trends report shows that women are applying for larger loans to consolidate debt, highlighting the financial difficulties they face disproportionately. On International Women’s Day, fintechs must acknowledge the persistent differences in financial challenges by women and ensure that their products and services support financial literacy.”
Findings from LoanTube’s consumer borrowing trends report:
- Female consumers are most likely to apply for a loan for home improvements (42%), requesting on average £1,603, followed by debt consolidation (32%) and buying a new car (10%).
- Male consumers are most likely to apply for a loan for debt consolidation (35%), requesting on average £2,193.
- Female consumers are 9% less likely to apply for a loan for debt consolidation but borrow 22% more (£2,631) on average than male consumers (£2,193) when they do.
- Women aged 18-35 request 19% more for debt consolidation (£2,714) than their male counterparts (£2,193).
- Women aged 66+ request 11% more for debt consolidation (£2,121) than their male counterparts (£1,888).
- Female consumers are 25% more likely to apply for a loan for home improvements, and when they do, they request 11% less on average than male consumers.
- Female consumers are 23% more likely than male consumers to apply for a loan for a holiday, whilst the average requested holiday loan amount is 11% lower than male consumers.
- Female consumers are 52% less likely to apply for a loan to repair their car.
The consumer borrowing trends report analyses anonymised customer data from over 100,000 loan applications submitted to LoanTube in January 2025. Please reach out to press@ecologymedia.co.uk with any questions.
